H&M is a Swedish multinational clothing retailer that operates in the Family Clothing Stores sector. The company was founded in 1947 by Erling Persson and has since grown to become one of the largest fashion retailers in the world, with over 5,000 stores in 74 countries.
H&M has been at the forefront of sustainable fashion for many years, and has made a commitment to decarbonisation and reducing its environmental impact. The company has set ambitious targets to become climate positive by 2030, which means that it will reduce more greenhouse gas emissions than it emits. This is a significant challenge, but H&M is committed to achieving it through a range of initiatives, including the use of renewable energy and the implementation of energy-efficient technologies.
One of the key ways that H&M is reducing its carbon footprint is through the use of renewable energy. The company has invested heavily in renewable energy sources such as wind and solar power, and has set a target to source 100% of its electricity from renewable sources by 2030. This is a significant challenge, but H&M is committed to achieving it through a range of initiatives, including the use of corporate power purchase agreements (PPAs).
Corporate PPAs are agreements between a company and a renewable energy supplier, which allow the company to purchase renewable energy directly from the supplier. This helps to reduce the company's carbon footprint and provides a reliable source of renewable energy. H&M has signed several corporate PPAs in recent years, including agreements with wind farms in Norway and Sweden.
In addition to its use of renewable energy, H&M is also implementing a range of energy-efficient technologies in its stores and distribution centers. This includes the use of LED lighting, energy-efficient HVAC systems, and the installation of solar panels on store roofs. These initiatives are helping to reduce the company's energy consumption and carbon footprint, while also saving money on energy costs.
H&M is also working to reduce the carbon footprint of its supply chain. The company has set a target to reduce the carbon footprint of its products by 30% by 2030, and is working with its suppliers to achieve this goal. This includes initiatives such as the use of sustainable materials, the implementation of energy-efficient manufacturing processes, and the reduction of waste and water usage.
Overall, H&M is a leader in the fashion industry when it comes to sustainability and decarbonisation. The company is committed to reducing its environmental impact and has set ambitious targets to achieve this. Through the use of renewable energy, energy-efficient technologies, and sustainable supply chain practices, H&M is working to become a climate-positive company and a leader in the transition to a low-carbon economy.